Azercontrakt announces gas reserves in Iran within swap deal

As of January 1, 2024, the volume of natural gas reserves of the State Contract Corporation - Azercontrakt OJSC in underground gas reservoirs was nearly 2.09 billion cubic meters, Report informs, citing the company.

This is 55.57 million cubic meters or 2.74% more year-on-year.

According to the company, there were 8.87 million cubic meters of natural gas reserves in the territory of Iran as part of the natural gas swap deal currently in force between Azerbaijan and Iran. This is 461,039 cubic meters or 5.5% more than the volumes as of the end of 2022.

Thus, Azercontrakt's natural gas (residual gas) reserves in Iran are valued at 785,189 manats ($461,735 million), which is 135,039 manats ($79,410) or 20.8% more than a year ago.